Typically the title company will wait until everything is signed and funded to execute both closings. The wholesaler gives their interest to the end buyer with an assignment model.
The wholesaler must accurately determine the estimated rehab costs to determine the property's value. They also don't hold the properties. However, it can be a lucrative way to build wealth.
You'll need a basic understanding of real estate to get into wholesaling. Having a big picture mindset will help negotiate with sellers.
You'll start by marketing to home sellers. Then build a buyers list. Your job is to match properties to investors. You'll need to network at local meetups and social media outlets.
Wholetailing is a play on words. It's wholesaling and retailing. It involves the purchase of distressed properties that the investor takes to the retail pool after cleaning it up.